Director dealings: Landore Resources finance director raises stake

9th Oct 2023 15:15

(Sharecast News) - Landore Resources revealed on Monday that finance director Glenn Featherby had acquired 500,000 ordinary shares in the AIM-listed exploration and development company.

Featherby, who was previously the chairman of Forte Energy NL, purchased the shares on Friday at an average price of 8.43p each, for a total value of £42,130.

Following the transaction, Featherby holds an interest in 3.72m ordinary Landore shares, representing approximately 3.05% of the company's issued share capital.

Earlier in October, Landore announced an agreement to sell its lithium prospects within the Junior Lake Project to the ASX-listed Green Technology Metals. Under the agreement, GT1 will give Landore Resources Canada, a wholly-owned subsidiary of Landore Resources, a cash sum of CAD 1.0m (£600,000). Additionally, a share-based consideration would see the issue of 1.62m new shares in GT1 to Landore Resources.

As of 1515 BST, Landore shares were up 2.02% at 8.82p.

Reporting by Iain Gilbert at Sharecast.com

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